Hsbc Holdings PLC Grows Stock Holdings in Guardant Health, Inc. $GH

Key Points

• Hsbc Holdings PLC increased its Guardant Health stake by 7.2% in the second quarter, ending with 105,979 shares worth approximately $15.9 million. Institutional investors collectively own 92.6% of GH.
• Analysts remain broadly bullish, with 24 Buy ratings and one Strong Buy; the consensus rating is “Moderate Buy” and the average price target is $184.58.
• Guardant Health reported stronger-than-expected quarterly results, posting an adjusted loss of $0.42 per share versus estimates of $0.76 and revenue of $334.98 million, up 44.3% year over year.

Hsbc Holdings PLC grew its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,979 shares of the company's stock after purchasing an additional 7,136 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Guardant Health worth $15,910,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GH. AQR Capital Management LLC boosted its stake in Guardant Health by 56.5% in the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company's stock worth $3,012,000 after buying an additional 25,831 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Guardant Health in the first quarter worth $274,000. Sei Investments Co. increased its position in shares of Guardant Health by 15.8% in the second quarter. Sei Investments Co. now owns 77,308 shares of the company's stock worth $4,023,000 after acquiring an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company's stock valued at $32,922,000 after acquiring an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Guardant Health by 56.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company's stock worth $5,800,000 after purchasing an additional 40,209 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 1,951 shares of Guardant Health stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the completion of the transaction, the director directly owned 11,048 shares in the company, valued at $1,449,055.68. The trade was a 15.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Clark sold 14,180 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total value of $2,253,485.60. Following the transaction, the director directly owned 2,975 shares of the company's stock, valued at $472,787. This trade represents a 82.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 427,024 shares of company stock valued at $67,113,285 over the last ninety days. Insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

GH has been the topic of several research reports. Canaccord Genuity Group raised their price objective on Guardant Health from $135.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Stifel Nicolaus increased their target price on Guardant Health from $130.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, July 31st. BTIG Research reiterated a "buy" rating and set a $195.00 target price on shares of Guardant Health in a report on Wednesday, September 2nd. JPMorgan Chase & Co. boosted their price target on Guardant Health from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Evercore restated an "outperform" rating and issued a $200.00 price target on shares of Guardant Health in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $184.58.

Guardant Health Trading Down 0.3%

GH stock opened at $160.98 on Wednesday. The firm has a 50 day simple moving average of $160.27 and a 200-day simple moving average of $123.62. The company has a market capitalization of $21.60 billion, a P/E ratio of -46.13 and a beta of 1.57. Guardant Health, Inc. has a twelve month low of $53.40 and a twelve month high of $176.58.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. The company's revenue was up 44.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.44) earnings per share. On average, research analysts predict that Guardant Health, Inc. will post -2.98 EPS for the current year.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health's mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company's flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

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